American digital micro-transaction firm gets backing of assorted venture capitalists
Californian digital payment and micro-transaction firm PlaySpan has secured $16.8 million in series B funding, bringing the total investment in the firm to $24 million.
The funding has come from a number of venture capitalist firms including Easton Capital Group, Menlo Ventures, Novel TMT Ventures and STIC. PlaySpan says it will use the investment to expand its business into Europe and Asia.
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Almost 17 million down the drain already. PlaySpan started laying people off last week. How does a company lose so much money so fast??!! Aren't these VC's holding them accountable or do they have so much money that they don't care how it is spent? This company seemed to have so much potential, but it's just going to be a statistic on the failed business side of the ledger it looks like.
